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Time is the only thing which is truly lost and cannot be regained

From the perspective of a company facing litigation, this seems an endless process which threatens to get out of control, sometimes leading to the impression that it is not worth fighting. In other words litigation means lost time, considerable costs and unpredictable results.

If a company tries to prevent disputes, to comply with all the legal provisions, it might find itself trapped in the middle of a regulatory maze. There are industries and areas of business extremely regulated, where managers need to be aware of every legal provision, understand it and integrate it in their business context.

However, once disputes are prevented and regulations are complied with, 0074he saga just begins, meaning a company will always face the issue of taxes. According to the World Bank, Romania is amongst the top countries within the EU in terms of the largest number of taxes a company has to pay during a fiscal year. With around 96 taxes and duties, the level is double compared to other European countries.

This is why the system of taxation is extremely technical, time and resource consuming - be it the recovery of VAT, tax structuring of a business, tax inspections or even tax payment procedural matters.

In search of lost time

Generally, any company in Romania which wants to perform its activities in a certain industry in compliance with the law can lose up to 65% of its time just to meet the legal requirements.An additional 20% of its time is spent paying taxes and duties or fulfilling administrative tasks. Therefore, only 10-15% of the entire time is left for focusing on business development, strategy and growth.

Beside time, when it comes to costs involved by the interaction with inspection and regulatory bodies, entrepreneurs can spend up to 25% to 40% of their available capital in order to comply with all the legal demands of the authorities.

The legal advisor's role is to maximize the efficiency in terms of time and money by quickly providing the best solution to the Client's needs, varying from the assistance for the drafting of a regulation proposal to the representation in a challenge of an unwanted provision.
And this is why Clients, when dealing with these technical and legal matters, need valuable advice, innovative approaches, all doubled with sound expertise and swift replies.

When legal aspects weigh significantly to the business you are conducting, you would want legal advisors who have a sound understanding of your business, of the interests and objective of your activity and the legal provisions affecting it, with an impeccable reputation and capable of providing efficient, creative and feasible legal solutions to your needs.